depths of destitution and despair, had, it was said, made
to his comrades the following observation: "Mates, it strikes me that we
are three great fools;" whereupon Bounce had replied, "We're more than
that Bob, we're three great sinners;" to which Badger had added, with
considerable emphasis, "That's a fact," and when men come to this, there
is hope for them.

The only personage of our tale who now remains to be mentioned is Mrs
Niven.

That steady-going female continued her vocation of ministering to the
wants of young students, some of whom treated her well, while others--to
their shame, be it said--took advantage of her amiability. In regard to
this latter fact, however, it may be recorded that Peggy proved a
sharp-witted, tight-handed, and zealous defender of her mistress. Among
Mrs Niven's other boarders there was one who was neither young nor a
student. He came to reside with her in the following manner:--

One evening Peggy was heard in altercation with a man in the passage who
seemed bent on forcing his way into the house. The students who chanced
to be in their rooms at the time cocked their ears, like war-steeds
snuffing the battle from afar, and hoped for a row. Mrs Niven, after
opening the parlour door softly, and listening, called out, "Let the
gentleman come up, Peggy."

"Gentleman indeed!" cried the irate Peggy, who had the intruder by the
throat, "he's only a dirty auld blagyird."

"Niver ye mind, Peggy," returned Mrs Niven peremptorily; "I ken him.
Let him up."

Immediately after, there walked into the parlour a bowed, mean-looking,
dirty little old man, who, as he sat down on a chair, paid some doubtful
compliments to Peggy.

"Oh, Maister Black, is it you!" said Mrs Niven, sitting down beside
him.

Besides being all that we have said, Mr Black was ragged, dishevelled,
haggard, and in every way disreputable.

"Yes, it's me, Mrs Niven," he replied harshly, "and you see I'm in a
sorry plight."

"I see, I see," said the good woman, taking his hand and shedding tears.
"I kent ye had lost a' by that fearfu' bank failure, but I didna ken ye
had come doon sae low. And oh! to think that it was a' through me, an
your kindness in offerin' to tak the shares aff my hands. Oh! Maister
Black, my heart is wae when I look at ye. Is there onything I can dae
for ye?"

Now, it was quite a new light to Mr Black that his relative had not
found him out. He had called in a fit of desperation, for the